Gold futures closed higher on Monday (Jan. 10) as traders engaged in speculative buying following recent price declines. The strong dollar and rising U.S. government bond yields, nevertheless put pressure on the yellow metal.
- Gold contract was up $1.4, or 0.08%, at $1,798.8 per ounce.
- Silver futures were up 5.3 cents, or 0.24%, at $22.462 an ounce.
- The platinum contract was down $22.9, or 2.39%, at $933.6 per ounce.
- The palladium contract was down $12.40, or 0.7%, at $1,909.20 an ounce.
After gold contracts fell 1.7% last week, traders resorted to speculative buying. The price decline earlier was driven by the publication of the FOMC minutes of the last Fed meeting. Fears arose that the U.S. Federal Reserve (Fed) will accelerate rate hikes and reduce its balance sheet. Consequently, liquidity will flow out of the markets.
Gold prices remain under pressure, however, as 10-year U.S. Treasury bond yields rose to 1.803% and the dollar index, which measures the value of the greenback against six major currencies in a basket of currencies, rose 0.27% overnight to 95.9906.
The Spot Market is Open
Tuesday, January 11, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 09.30 | 1,806.00 1,807.00 | +4.40 0.24% | 1,800.00 1,807.00 |
| Silver 09.30 | 22.56 22.66 | +0.11 0.49% | 22.43 22.67 |
| Platinum 09.30 | 948.00 958.00 | +10.00 1.07% | 938.00 960.00 |
| Palladium 09.30 | 1,861.00 2,011.00 | +9.00 0.49% | 1,838.00 2,012.00 |
| Rhodium 06.00 | 16,650.00 18,650.00 | 0.00 0.00% | 16,650.00 18,650.00 |